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November 25, 2021

A new report by Softswiss: online gambling and cryptocurrencies

SOFTSWISS has come out with a report containing insightful statistics and information on the cryptocurrency use at its Online Casino Platform, Sports Betting Platform and Game Aggregator clients. 

The information available in the report compares data from the third quarters of 2021 and 2020, and were collected anonymously.

Total bets with cryptocurrencies

The most interesting data drawn from the Q3 2021 is that the amount of bets in cryptocurrency is raising. In fact, compared to 2020, the increase was 2.8 times. The trend continued throughout 2021, so much so that the increase from Q2 2021 to Q3 2021 is 28%.

“This strong growth is not only due to SOFTSWISS’ organic development but also owes itself to increased digital consumption around the world. iGaming companies are investing more and more into marketing. This leads to an increase in the popularity of online gaming and betting among female audiences and young players over the age of 21 who actively use cryptocurrencies in their daily lives in general and for online betting in particular. This is reflected in the increasing share of crypto in iGaming”,

comments Andrey Starovoitov, COO at SOFTSWISS.

Cryptocurrencies and Fiat

Cryptocurrency is slowly catching up with FIAT currencies. Looking at the Q3 2020 we can see that the amount of bets in crypto vs fiat increased by 27.6 percentage points in the same period in 2021. 

This trend is also proven by data which compare Q2 and Q3 in 2021, when the share of cryptobets increased by 10.3%, passing from 33% to 43.3% respectively.

Andrey Starovoitov, COO SOFTSWISS, notes:

“This dynamic is most likely due to the growth and development of the number of crypto brands. While in Q3 2020, they were still newcomers to the market, they can be considered experienced players in the crypto gambling industry this year. The expansion of these brands into new markets has also played an important role in this.”

Cryptocurrencies and Fiat: Sportsbook

This is however completely different in sports betting. In fact, here fiat currencies are the absolute winner. In Q3, 98.76% of bets were made with fiat currencies, and only 1.24% in crypto.

Aleksander Kamenetskyi, Sportsbook Product Owner, notes:

“This is most likely because the vast majority of the Sportsbook’ clients are those companies that launched their casinos without an initial focus on cryptocurrency operation. Their main focus was on fiat. However, the trend has changed, and now cryptocurrencies are always considered an important component when launching new projects. Therefore, I am sure crypto share will only grow in the future.”

You’ll also find information about the most crypto-friendly software providers and games, as well as some insights into Softswiss’ products. If you’d like to know more, click here and get ahold of the full report!